Alaska Air Group (NYSE:ALK) Updates FY24 Earnings Guidance

Alaska Air Group (NYSE:ALK) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.25-5.25 for the period, compared to the consensus earnings per share estimate of $4.36. Alaska Air Group also updated its FY 2024 guidance to 3.250-5.250 EPS.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. TD Cowen increased their target price on shares of Alaska Air Group from $49.00 to $58.00 and gave the company a buy rating in a research report on Friday. StockNews.com downgraded shares of Alaska Air Group from a hold rating to a sell rating in a research report on Tuesday, April 9th. Susquehanna raised their price objective on shares of Alaska Air Group from $40.00 to $42.00 and gave the stock a neutral rating in a research report on Friday. UBS Group started coverage on shares of Alaska Air Group in a research report on Wednesday, March 20th. They set a buy rating and a $54.00 price objective for the company. Finally, Bank of America raised their price objective on shares of Alaska Air Group from $50.00 to $56.00 and gave the stock a buy rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $57.85.

Alaska Air Group Trading Up 4.0 %

Shares of ALK opened at $44.45 on Friday. The business has a 50-day moving average of $39.52 and a 200 day moving average of $37.17. Alaska Air Group has a fifty-two week low of $30.75 and a fifty-two week high of $57.18. The firm has a market cap of $5.59 billion, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 0.86 and a beta of 1.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.58 and a current ratio of 0.61.

Alaska Air Group (NYSE:ALK) last posted its earnings results on Thursday, April 18th. The transportation company reported ($0.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.17. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.18 billion. Alaska Air Group had a return on equity of 14.72% and a net margin of 2.25%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.62) EPS. As a group, research analysts forecast that Alaska Air Group will post 4.41 EPS for the current year.

Insider Buying and Selling at Alaska Air Group

In other news, EVP Andrew R. Harrison sold 6,500 shares of Alaska Air Group stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total transaction of $249,340.00. Following the completion of the sale, the executive vice president now owns 26,048 shares in the company, valued at approximately $999,201.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.68% of the company’s stock.

Institutional Trading of Alaska Air Group

Large investors have recently modified their holdings of the business. Covestor Ltd boosted its position in shares of Alaska Air Group by 416.4% during the 1st quarter. Covestor Ltd now owns 568 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 458 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Alaska Air Group by 19.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,811 shares of the transportation company’s stock valued at $105,000 after acquiring an additional 300 shares during the last quarter. CENTRAL TRUST Co boosted its position in shares of Alaska Air Group by 19.5% during the 3rd quarter. CENTRAL TRUST Co now owns 2,141 shares of the transportation company’s stock valued at $84,000 after acquiring an additional 350 shares during the last quarter. McIlrath & Eck LLC lifted its position in Alaska Air Group by 12.2% in the 4th quarter. McIlrath & Eck LLC now owns 2,149 shares of the transportation company’s stock worth $92,000 after buying an additional 234 shares during the last quarter. Finally, Advisory Services Network LLC lifted its position in Alaska Air Group by 54.1% in the 4th quarter. Advisory Services Network LLC now owns 2,452 shares of the transportation company’s stock worth $96,000 after buying an additional 861 shares during the last quarter. Institutional investors own 81.90% of the company’s stock.

About Alaska Air Group

Alaska Air Group, Inc, through its subsidiaries, operates airlines. It operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing jet aircraft for passengers and cargo in the United States, and in parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas; and for passengers across a shorter distance network within the United States, Canada, and Mexico.